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4 Hour Strategy (MACD)

  • #19,341
  • Apr 5, 2009 11:21pm Apr 5, 2009 11:21pm
Quoting orangeRANGE
fishmen...

I think your mt4 have different GMT offset compare to mine. That's why it has a little bit of different.

Anyway...that fib 50.0% still a strong Resistance Level in my opinion...

What do you think?
Yes, I agree. my server time is GMT+2.
  • #19,342
  • Apr 5, 2009 11:58pm Apr 5, 2009 11:58pm
Hello all...

I SELL this pair for few reasons:-

1) D1: Previous candle has closed and break below 365ema and Sup TL;
2) H4: MACD makes lower low (TC signal); &
3) Downtrend basic rules: Price < 8 < 21 < 89 in all 3 timeframes (D1-H4-H1)

Entry details:-
SELL @ 1.1249
SL @ 1.1312 (63 pips risk = 12pips above 8EMA)
No TP decided yet (Maybe using trailing stops strategy)

I noticed that Doji Star in the previous candle of H1 but I don't take it as a big threat.

In my opinion, price might retrace to at least 8EMA before it going down further more. I wish I can re-enter there but I do not have time to do that as I am not a fulltime trader.

So far, I only anticipate price level 1.2000 as the immediate support level before the fib 50.0%.

Hope this trade survive...because I just don't have time to look at it until tomorrow...

Your comments/questions/critics are most welcome

Note: Entry is made at aqua vertical line

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #19,343
  • Apr 6, 2009 1:12am Apr 6, 2009 1:12am
Same here Raymond...
I've been using their demo feed for a couple of years and every now and then the connection is lost. This time it seems to be dragging on though - frustrating...maybe its time for me to sort out a backup.


Quoting Morelands
Anyone having trouble with MIG MT4 platform. I'm using a demo account for the platform and using another account to trade. Every once in a while (3-4 months I think) I have to reopen the account and I've been doing this for about a year, but now I'm getting "No connection" Anyone else having a problems or are they just catching on to the fact that I'm just using them for their platform?
Raymond
  • #19,344
  • Apr 6, 2009 2:56am Apr 6, 2009 2:56am
Quoting orangeRANGE
Hello all...

I SELL this pair for few reasons:-

1) D1: Previous candle has closed and break below 365ema and Sup TL;
2) H4: MACD makes lower low (TC signal); &
3) Downtrend basic rules: Price < 8 < 21 < 89 in all 3 timeframes (D1-H4-H1)

Entry details:-
SELL @ 1.1249
SL @ 1.1312 (63 pips risk = 12pips above 8EMA)
No TP decided yet (Maybe using trailing stops strategy)
May need to be careful Orange as there could be a reversal coming.
  • #19,345
  • Apr 6, 2009 3:50am Apr 6, 2009 3:50am
Position:

USD/CHF short at 1.1264
S/L at 1.1316
T/P 1.1176
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 18 KB
THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
  • #19,346
  • Edited 5:58am Apr 6, 2009 5:22am | Edited 5:58am
My apologies for posting this here, as it isn't related to the 4hr MACD, but if someone can give me some info on Metatrader I'd be grateful.
I'm setting up a 2nd data feed (Interbank) as my Mig connection is not up and running for some reason at their end. Does anyone know if its possible to set up the 2nd server / data feed on the same Metatrader platform so that I can keep all my trendlines etc, or do I need to have 2 separate instances of MT running?
Thanks,
Ben

PS - have worked out how to do it. Thanks
  • #19,347
  • Apr 6, 2009 5:50am Apr 6, 2009 5:50am
Morning All,

I've just taken on the CT (counter trend) trade on the EUR/USD. The reasons for this trade are as follows:

1) Evening star formation on 4H candle
2) Found resistance at a previous 50% retracement level. (1.3588) which acted as resistance around the 26th of March
3) Price action hit a daily trendline around 1.3577 area.

Entry @ 1.3518
Tp: 1.3468
SL : 1.3560

I will upload a video review of this trade on my youTube page later. As normal any questions please ask.

Cheers WG
  • #19,348
  • Apr 6, 2009 6:00am Apr 6, 2009 6:00am
Quoting welshguy2000
Morning All,

I've just taken on the CT (counter trend) trade on the EUR/USD. The reasons for this trade are as follows:

1) Evening star formation on 4H candle
2) Found resistance at a previous 50% retracement level. (1.3588) which acted as resistance around the 26th of March
3) Price action hit a daily trendline around 1.3577 area.

Entry @ 1.3518
Tp: 1.3468
SL : 1.3560

I will upload a video review of this trade on my youTube page later. As normal any questions please ask.

Cheers WG

i join you

also

EU short

Entry @ 1.3524
Tp: 1.3468
SL : 1.3560


few pips better entry
  • #19,349
  • Apr 6, 2009 6:20am Apr 6, 2009 6:20am
Quoting orangeRANGE
Dude...

Where are you lately? Went fishing huh? So you are now concentrate into m5 strategy?
If there biting it's hard to leave! It's been mainly his 15min set-up, working out very well...

Been looking at the USDJPY, it's chugging along and looks like it wants to fill the price gap. So the plan is to look for the pullback and then a signal to re-enter. For the new folks, visit the website and click on the Plan451 link for more info...
Attached Image
  • #19,350
  • Apr 6, 2009 7:37am Apr 6, 2009 7:37am
Quoting welshguy2000
Morning All,

I've just taken on the CT (counter trend) trade on the EUR/USD. The reasons for this trade are as follows:

1) Evening star formation on 4H candle
2) Found resistance at a previous 50% retracement level. (1.3588) which acted as resistance around the 26th of March
3) Price action hit a daily trendline around 1.3577 area.

Entry @ 1.3518
Tp: 1.3468
SL : 1.3560

I will upload a video review of this trade on my youTube page later. As normal any questions please ask.

Cheers WG
As this is a counter trend trade, i've closed all lots @ 1.3475 using a smaller time frame. I will go through this on a video later.

+ 40 pips

Cheers WG
  • #19,351
  • Apr 6, 2009 8:15am Apr 6, 2009 8:15am
Quoting zeuzera
i join you

also

EU short

Entry @ 1.3524
Tp: 1.3468
SL : 1.3560


few pips better entry
i am out at 1,3460

winn 64 pips


  • #19,352
  • Apr 6, 2009 8:20am Apr 6, 2009 8:20am
Quoting welshguy2000
As this is a counter trend trade, i've closed all lots @ 1.3475 using a smaller time frame. I will go through this on a video later.

+ 40 pips

Cheers WG
Very nice trade. I was busy and missed the entry.
  • #19,353
  • Apr 6, 2009 9:18am Apr 6, 2009 9:18am
Quoting orangeRANGE
Hello all...

I SELL this pair for few reasons:-

1) D1: Previous candle has closed and break below 365ema and Sup TL;
2) H4: MACD makes lower low (TC signal); &
3) Downtrend basic rules: Price < 8 < 21 < 89 in all 3 timeframes (D1-H4-H1)

Entry details:-
SELL @ 1.1249
SL @ 1.1312 (63 pips risk = 12pips above 8EMA)
No TP decided yet (Maybe using trailing stops strategy)

I noticed that Doji Star in the previous candle of H1 but I don't take it as a big threat.

In...
Got Stopped Out...hmmm...I think I will not trust 8EMA as res/sup level after this...but thats okay...learning from another loss...
Attached Image(s) (click to enlarge)
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  • #19,354
  • Apr 6, 2009 9:28am Apr 6, 2009 9:28am
Quoting orangeRANGE
Got Stopped Out...hmmm...I think I will not trust 8EMA as res/sup level after this...but thats okay...learning from another loss...
Hi orange,

I was also in that trade yesterday. I short 3 positions @1.1283 and first target @ 1.1253 (hit), second target @ 1.1223 (finally I closed @ 1.1260), third target @ 1.1183 (stopped out @ 1.1279). Totally 57 pips gain. At that time I closed the second target, I already saw strong support, maybe 200 or 365 @ daily chart. But on your daily, i don't see the support clearly. I am at work right now. Will upload my chart FYI.

Cheers

Fish
  • #19,355
  • Apr 6, 2009 10:33am Apr 6, 2009 10:33am
Quoting fishmen
Hi orange,

I was also in that trade yesterday. I short 3 positions @1.1283 and first target @ 1.1253 (hit), second target @ 1.1223 (finally I closed @ 1.1260), third target @ 1.1183 (stopped out @ 1.1279). Totally 57 pips gain. At that time I closed the second target, I already saw strong support, maybe 200 or 365 @ daily chart. But on your daily, i don't see the support clearly. I am at work right now. Will upload my chart FYI.

Cheers

Fish
fishmen...

I have adjusted my Sup TL in my D1. I think that is one of my biggest mistake here in making TL. The first ever too...

As you can see in my D1, 365ema and Sup TL are still strong support levels for this pair.

Another thing is, I made my entry before I went to work earlier today. Very little/almost no time to watch my trade, most of the time. When I manage to go online, often it is already too late to save my trade. I also always missed the best entries lately.

I can trade much better and getting the best result if only I have more time online...but working environment doesn't allowed me to do so. It is quite a tough and hard time for me now until I can quit my job and become a fulltime trader soon. I hate missing pips. I hate too much losses.

I should have listen to my own advise earlier...not to trade this week... jeeezzz......
Attached Image(s) (click to enlarge)
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  • #19,356
  • Apr 6, 2009 10:41am Apr 6, 2009 10:41am
Quoting orangeRANGE
fishmen...

I have adjusted my Sup TL in my D1. I think that is one of my biggest mistake here in making TL. The first ever too...

As you can see in my D1, 365ema and Sup TL are still strong support levels for this pair.

Another thing is, I made my entry before I went to work earlier today. Very little/almost no time to watch my trade, most of the time. When I manage to go online, often it is already too late to save my trade. I also always missed the best entries lately.

I can trade much better and getting the best result if only...
May I know why no trade this week?

Fish
  • #19,357
  • Apr 6, 2009 10:44am Apr 6, 2009 10:44am
Quoting orangeRANGE
Hi all...

d1
Aaahaahhh...!!! Top Spinner candle there...testing the Res TL above it...watch out if you are favouring LONG...

h4
Price still ranging between 1.34-1.35 (as I predicted in my previous post)... again...be wary of the Res TL above it...

h1
The final hour of trading during last Friday also a Doji (but have a little bit of long tail)...again...becarefull if you are thinking of BUYING EU...

SO...

I am excited to see the where the...
I made myself clear and predicted correctly for this one...EU does go down from my initial Resistance Levels.

It just that I don't have time to look for SHORT entry for this pair today...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
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  • #19,358
  • Edited 11:50pm Apr 6, 2009 10:50am | Edited 11:50pm
Quoting fishmen
May I know why no trade this week?

Fish
Friday is Good Friday...trading volume would be very2 thin...I think...

To me...if I want to make a free ride and let my position open...4 days trading a week with a low trading volume would be would be a short-lived trade.

I like to let my trade in open position...and looking for a free ride and doing trailing stops strategy...for most of the time...maybe yours are different?
  • #19,359
  • Apr 6, 2009 1:24pm Apr 6, 2009 1:24pm
I've been watching the pairs and for me the USD/JPY is currency which is the most within the rules and price action and having a nice trend up move. Palmer, I also was waiting for a pullback and we got one and I switched to the 1H for entry and made entry.

Entry @ 100.80
SL @ 100.40
TP @ 102.40

Reasons for entry:
1)Price bouncing off a rising trend line on the Daily RSI
2)Price has broken the March 5 High, retraced back to it and bounced off of it
3)On the 4H, price has been riding the 8ema since beginning of the month
4)On the 1H, The +DI line crossed over the -DI line

As you can see there are a few confluence of events before the entry. And the stop loss criteria was within my trading rules. I have included 1H, 4H, and daily chart so you guys can see what I see on my charts.

Edit:
My first target has hit for +20 points.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy 1h.gif Size: 47 KB
Click to Enlarge Name: usdjpy 4h.gif Size: 45 KB
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Keeping Life Simple
  • #19,360
  • Apr 6, 2009 1:29pm Apr 6, 2009 1:29pm
Quoting time1300
I've been watching the pairs and for me the USD/JPY is currency which is the most within the rules and price action and having a nice trend up move....
blade runner?
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